by Christopher Kutyn

Multiple offers, resulting in a sale

Over the past few months, we have suggested that it is a great time to list, especially if you own something which may have proved difficult to move in the past.  In many sectors the level of activity has been strong, with the MLS Statistics pointing to a ‘Seller’s market’.  It shouts to the nature of the current market, that a property that had been on and off the market since 2007, has finally sold. A bidding war… you can’t make this stuff up!

The story this month is that prices are moving; in some cases rather dramatically.  It is almost as though out of town buyers know the value of things better than the locals do! There are many factors driving the market at this time, but the out of town buyer is definitely putting upward pressure on prices.  It is almost like watching a drunken sailor on a spending spree.

Recently, I was asked if now would be a good time to list privately, you know, and save the real estate commission?  On reflection, this is probably a bad idea.  With heightened demand and rising prices, a good Realtor can earn his/her keep by helping sellers manage the competitive interest.

I would like to take you seriously but to do so would affront your intelligence. - William F Buckley jr.

Christopher Kutyn

Chris has been appraising Real Estate for over 30 years and has served on the board for the local chapter of the Appraisal Institute of Canada.

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